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EAEU

The Eurasian Economic Union (EAEU) is an economic union of former Soviet Union member states. It is comprised of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The treaty establishing the EAEU was signed on 29 May 2014 by Russia, Kazakhstan and Belarus, and came into force on 1 January 2015. Armenia and Kyrgyzstan accessed the Union on 2 January 2015 and 6 August 2015, respectively.

The EAEU was set up to challenge the economic influence of the US and the European Union, and to counter the two super powers’ attempts to isolate Russia.

The EAEU provides for free movement of goods, services, capital and labour. Member states have a common trade policy regime regarding third countries.

The EAEU has been very active negotiating trade deals.

It has two free trade agreements in force with Vietnam (2016) and Iran (interim FTA, 2019), as well as an agreement on economic and trade cooperation with China (2019).

It has signed FTAs with Serbia (2019) and Singapore (2019).

It has been discussing trade deals with Cambodia, Chile, Egypt, India, Indonesia, Israel, Korea, Mercosur and Peru.

Potential negotiations with ASEAN, Bangladesh, Brazil, the Gulf Cooperation Council, Mauritius, Mexico, Mongolia, New Zealand and Thailand could also emerge further down the line.

In addition, the EAEU has a free trade area with Moldova, Tajikistan, Ukraine and Uzbekistan, as part of the Commonwealth of Independent States Free Trade Area, which was established in 2012. On 1 January 2016, Russia suspended the agreement with Ukraine, following the provisional application of the European Union-Ukraine trade deal.

Last update: March 2020

Photo: German Marshall Fund of the United States


Launching FTA talks with a number of countries approved by EAEU
The Presidents of Armenia, Russia, Kazakhstan, and Kirgizstan have approved the proposal to launch FTA talks with Iran, Egypt, India and Singapore.
Can Russia ride China’s trade lead in Southeast Asia?
Current political unity masks divergent economic interests as Russia attempts to shift its economic interests east to Eurasian and Asian markets.
EEU, Iran move closer to establishing free trade zone
Iran is one of the first countries the EEU wants to establish a free trade zone with, says Eurasian Economic Commission Chairman.
Eurasian Economic Union considering Thailand’s free trade zone application
The Eurasian Economic Union (EAEU) is considering Thailand’s application for a free trade zone agreement, and suggests that a new document - memorandum of understanding - should be signed between the sides.
Singapore, Russia agree to enhance cooperation
Singapore and Russia reaffirmed their commitment to the expeditious conclusion of a Free Trade Agreement (FTA) between Singapore and the Eurasian Economic Union (EAEU)
Armenia initiated EAEU-Iran talks on free trade agreement
The Eurasian Economic Union began discussions on having a privileged trade agreement with Iran at the initiation of Armenia
Tigran Sargsyan’s visit to Beijing: new impetus to "conjugation" of the EAEU and the SREB
Work is under way on forming a broad economic partnership on the basis of the EAEA and the Chinese initiative of the Silk Road Economic Belt.
Vietnam joins Russia-led free trade zone
A free trade agreement between the Russian-led Eurasian Economic Union (EEU) and Vietnam takes effect on Wednesday 5 October with its ratification.
Work on FTA between EAEU and India to begin in 2017
Work to finalise a Free Trade Agreement (FTA) between India and the Eurasian Economic Union is likely to happen in 2017, said Alexander Tsybulski, Russian Deputy Minister of Economic Development.
EAEU-Viet Nam FTA confirmed to take effect in October
The free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Viet Nam will take effect on October 5.